Maple Leaf Foods Inc.

Maple Leaf Foods Inc.

August 15, 2005 10:13 ET

Maple Leaf Foods Inc.: Notice of Intention

TORONTO, ONTARIO--(CCNMatthews - Aug. 15, 2005) - Maple Leaf Foods Inc. (TSX:MFI) today announced that it has filed a Notice of Intention to make a normal course issuer bid with The Toronto Stock Exchange (the "TSX") and that the TSX has accepted the Notice of Intention. Under the bid, the Company will have the right to purchase, commencing August 17, 2005, up to a maximum of 5,249,796 of its Common Shares (representing approximately 5% of its outstanding Common Shares) over the following twelve months through the facilities of the TSX. The Company had 104,995,934 Common Shares issued and outstanding as of August 8, 2005. Common Shares purchased by the Company under the bid will be cancelled.

The normal course issuer bid will remain in effect until the earlier of the date on which the maximum number of Common Shares permitted under the bid have been purchased, the date the Company provides notice of termination of the bid, or August 16, 2006.

Management considers the normal course issuer bid to be in the best interests of the Company. The purchase of Common Shares would offset the dilutive effect of share issuances on existing shareholders arising from: the issue from treasury of Common Shares under the Company's Share Incentive Plan, pursuant to acquisitions or as a result of the exercise of conversion rights under the Company's convertible debentures prior to their redemption in January 2005.

Maple Leaf Foods Inc. is a leading Canadian food processing company committed to delivering quality food products to consumers around the world. Headquartered in Toronto, Canada, the Company employs approximately 23,000 people at its operations across Canada and in the United States, Europe and Asia. Maple Leaf Foods Inc. had sales of more than $6.4 billion in 2004.

Contact Information

  • Maple Leaf Foods Inc.
    Lynda Kuhn
    Vice-President, Public & Investor Relations
    (416) 963-6159 or (416) 926-2026